Watch AssetRush founder Philippe A. Naegeli having a stimulating exchange with Carla Bünger, Founder and CEO of KORE Technologies about what drives her to push technological boundaries, the immediate impacts of their actions, blockchain-based solutions they have developed and much more.
Recently, Philippe invited Carla Bünger for an interview for the AssetRush TALK series, where they talk with innovators and pioneers of the financial sector.
During this insightful conversion, Carla spoke about enabling their clients to enter the evolution of the Web. 3.0 and providing digital identities for products, persons, and financial assets on blockchain technology.
She started by discussing her new endeavors and what drives her in life to push technological boundaries, especially in the blockchain industry. She explained why it is so difficult to find and scale large projects based on blockchain and make an impact on a broader group of people. She further added that the immediate impact of their actions is to bring scalability into this area while solving different problems so that blockchain technology becomes applicable in a much wider sense. This will allow large corporates to enter the field and further build on this innovative technology and move the world into the Web 3.0 and the Metaverse.
When asked about solutions developed to implement this change, Carla revealed how they are tokenizing commodities for one of their clients, which helped to digitize the whole market. She also explained how they enable small retail investors to access a new asset class by tokenizing real estate and owning fractions of a property using blockchain technology. She also shared about a large luxury corporate (another client) for whom they tokenize their high-value products by creating their digital twins, which represents a strong proof of ownership and authenticity.
Carla Bünger described that the blockchain technology has enabled them to approach a different set of investors, including retail investors who didn't get many opportunities earlier, and how it allows people (and not banks) to decide where they want to invest.
As the conversation went further, she explained how secure storage of digital assets has been one of the biggest challenges in the industry today as not many big banks in Switzerland offer the required solutions. While some players do, they are insanely expensive, which often offsets the benefits of digital assets as people have to spend heavily on storing their digital assets securely. Secure storage of digital assets needs better infrastructure. She added that high prices will adjust as more institutional investors start showing interest in this field in the future.
Carla also stressed the importance of LinuxONE servers in effectively managing and storing digital assets. The LinuxONE server helps create a trusted execution environment for every client as it does not allow the service provider to access their clients’ digital assets. This is the fundamental technology that KORE uses to manage digital assets. It is then paired with hardware security modules (HSM) to maintain a risk profile and ensure top-notch, banking-grade security for all transactions. KORE takes care of the security aspect for its clients without any kind of compromises and also generates solutions for large banking partners, boosting their confidence around this space.
She mentioned that Switzerland has been the base for very big crypto projects thanks to its well-written ground rules. The Swiss blockchain ecosystem is very fruitful to create things that can go beyond and foster innovations that can push technological boundaries further.
When asked about the next step, Carla explained that while most of their peers are focused on fintech, investing, and financial services, she thinks differently. They aim to realize the true potential of blockchain technology that goes so much further than the financial industry. Creating digital identities for people, products, and financial assets, is the basis that they need to go to Web 3.0 and the metaverse.
KORE Technologies is helping corporates prepare and take the right steps towards this virtual future.